Corsair Gaming (NASDAQ:CRSR) Stock Price Expected to Rise, Wedbush Analyst Says

Corsair Gaming (NASDAQ:CRSR) had its price target boosted by equities research analysts at Wedbush from $8.00 to $13.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 22.53% from the stock’s previous close.

Several other brokerages have also commented on CRSR. Weiss Ratings raised Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Roth Capital initiated coverage on shares of Corsair Gaming in a research note on Wednesday, July 22nd. They set a “buy” rating and a $15.00 target price for the company. Wall Street Zen upgraded shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Craig Hallum reissued a “hold” rating and issued a $10.00 price target on shares of Corsair Gaming in a research note on Monday, June 1st. Finally, B. Riley Financial upped their price objective on shares of Corsair Gaming from $7.50 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.29.

Corsair Gaming Price Performance

CRSR stock opened at $10.61 on Monday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95. The business has a 50 day simple moving average of $9.50 and a 200-day simple moving average of $7.18. The firm has a market capitalization of $1.13 billion, a PE ratio of 132.64 and a beta of 1.85. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.The firm had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities research analysts anticipate that Corsair Gaming will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new position in Corsair Gaming during the 4th quarter valued at about $37,000. Tower Research Capital LLC TRC increased its stake in Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after purchasing an additional 3,681 shares during the period. Cetera Investment Advisers acquired a new stake in shares of Corsair Gaming during the first quarter worth about $56,000. R Squared Ltd acquired a new stake in shares of Corsair Gaming during the first quarter worth about $58,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Corsair Gaming in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.